{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/825/944/#15-scope-and-scope-exceptions","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"825","topic_title":"Financial Instruments","subtopic":"825-944","subtopic_title":"Financial Services—Insurance","section":{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"825-944-15-1","para":"15-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section <a altsource=\"GUID-6D9C18A3-ADAA-4660-A6E4-06A364A6BB5D.ditamap\" class=\"ditamap\">944-10-15</a>, with specific instrument qualifications noted below.</div></div>","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 944-10-15, with specific instrument qualifications noted below.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:df3bd2c7aca48937766d42ab761fd7cc3211327153ab018777ce8272dafdb03f","downloaded_from":"2026-09-10T01:45:34.039Z","last_downloaded_at":"2026-09-10T01:45:34.039Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477471","source_sha256":"3eb24fb26a96fff04b937233b5bc7482b4494e0f12ac576974b13782f3339544"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e68028d9d1082448a60e7d2a29e4ef28788d6d0daf4a38db89837a3249051408","downloaded_from":"2026-09-10T01:45:34.039Z","last_downloaded_at":"2026-09-10T01:45:34.039Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477471","source_sha256":"3eb24fb26a96fff04b937233b5bc7482b4494e0f12ac576974b13782f3339544"}},{"block":null,"heading":"Instruments","paragraphs":[{"citation":"825-944-15-2","para":"15-2","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in this Subtopic applies to all financial instruments, including <a href=\"/glossary/i/#investment-contracts\" class=\"term\" title=\"Long-duration contracts that do not subject the insurance entity to risks arising from policyholder mortality or morbidity.\"><span>investment contracts</span></a>. For a guidance on identifying investment contracts, see the discussion beginning in paragraph <a href=\"/asc/944/20/#944-20-15-16\" class=\"xref\">944-20-15-16</a>.</div></div>","snippet":"The guidance in this Subtopic applies to all financial instruments, including investment contracts. For a guidance on identifying investment contracts, see the discussion beginning in paragraph 944-20-15-16.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8f062b097fc830a574806e3fc07d4b73571b3e9cbcf3ad1c25397f35c39adc1e","downloaded_from":"2026-09-10T01:45:34.039Z","last_downloaded_at":"2026-09-10T01:45:34.039Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477471","source_sha256":"3eb24fb26a96fff04b937233b5bc7482b4494e0f12ac576974b13782f3339544"}},{"citation":"825-944-15-3","para":"15-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"><a href=\"/updates/page-1833002/\" class=\"xref\">Paragraph not used</a>.</div></div>","snippet":"Paragraph not used.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a657c990e7388dbfb492248682c5e82553097daa9c0a1cd0ea85a11ac380ea8f","downloaded_from":"2026-09-10T01:45:34.039Z","last_downloaded_at":"2026-09-10T01:45:34.039Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477471","source_sha256":"3eb24fb26a96fff04b937233b5bc7482b4494e0f12ac576974b13782f3339544"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c7d3af51a9adc08829c4f544491fa5e488e919adb8b405335f8e7a4ee58fb640","downloaded_from":"2026-09-10T01:45:34.039Z","last_downloaded_at":"2026-09-10T01:45:34.039Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477471","source_sha256":"3eb24fb26a96fff04b937233b5bc7482b4494e0f12ac576974b13782f3339544"}},{"block":"Reinsurance Contracts","heading":"Overall Guidance","paragraphs":[{"citation":"825-944-15-4","para":"15-4","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Reinsurance Contracts Subsections of this Subtopic follow the same Scope and Scope Exceptions as outlined in the <a href=\"/updates/page-2147479495/\" class=\"xref\">General Subsection</a> of this Section, with specific instrument qualifications noted below.</div></div>","snippet":"The Reinsurance Contracts Subsections of this Subtopic follow the same Scope and Scope Exceptions as outlined in the General Subsection of this Section, with specific instrument qualifications noted below.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:123b690c183c6e8954c3d6441398dfe6f8421393d763074a05d04cf15daa63ee","downloaded_from":"2026-09-10T01:45:34.039Z","last_downloaded_at":"2026-09-10T01:45:34.039Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477471","source_sha256":"3eb24fb26a96fff04b937233b5bc7482b4494e0f12ac576974b13782f3339544"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:17d071d40fe7cdd70a0e38ae0ebdf7087d85b032ba8f9bde2de7bd96d7db0144","downloaded_from":"2026-09-10T01:45:34.039Z","last_downloaded_at":"2026-09-10T01:45:34.039Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477471","source_sha256":"3eb24fb26a96fff04b937233b5bc7482b4494e0f12ac576974b13782f3339544"}},{"block":"Reinsurance Contracts","heading":"Instruments","paragraphs":[{"citation":"825-944-15-5","para":"15-5","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in the Reinsurance Contracts Subsections of this Subtopic applies only to <a href=\"/glossary/r/#reinsurance\" class=\"term\" title=\"A transaction in which a reinsurer (assuming entity), for a consideration (premium), assumes all or part of a risk undertaken originally by another insurer (ceding entity). For indemnity reinsurance, the legal rights of the insured are not affected by the reinsurance transaction and the insurance entity issuing the insurance contract remains liable to the insured for payment of policy benefits. Assumption or novation reinsurance contracts that are legal replacements of one insurer by another extinguish the ceding entity's liability to the policyholder.\"><span>reinsurance</span></a> contracts. For guidance on identifying a reinsurance contract, see the <a href=\"/asc/944/20/#15-scope-and-scope-exceptions\" class=\"xref\">Reinsurance Contracts Subsection</a> of Section 944-20-15.</div></div>","snippet":"The guidance in the Reinsurance Contracts Subsections of this Subtopic applies only to reinsurance contracts. For guidance on identifying a reinsurance contract, see the Reinsurance Contracts Subsection of Section 944-20…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:43b751b4101c396f1568f94166fca54fdd00fac984ed8a4bca97e6932cf642d0","downloaded_from":"2026-09-10T01:45:34.039Z","last_downloaded_at":"2026-09-10T01:45:34.039Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477471","source_sha256":"3eb24fb26a96fff04b937233b5bc7482b4494e0f12ac576974b13782f3339544"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4d6d6b4daec6c086893071818ab66abdaa0ab6c421f76c750136cf826dec6510","downloaded_from":"2026-09-10T01:45:34.039Z","last_downloaded_at":"2026-09-10T01:45:34.039Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477471","source_sha256":"3eb24fb26a96fff04b937233b5bc7482b4494e0f12ac576974b13782f3339544"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e5c729efaab89aa4340e89f32dd2ee4e12c3516887ba229c8f216ce62453053c","downloaded_from":"2026-09-10T01:45:34.039Z","last_downloaded_at":"2026-09-10T01:45:34.039Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477471","source_sha256":"3eb24fb26a96fff04b937233b5bc7482b4494e0f12ac576974b13782f3339544"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e5c729efaab89aa4340e89f32dd2ee4e12c3516887ba229c8f216ce62453053c","downloaded_from":"2026-09-10T01:45:34.039Z","last_downloaded_at":"2026-09-10T01:45:34.039Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477471","source_sha256":"3eb24fb26a96fff04b937233b5bc7482b4494e0f12ac576974b13782f3339544"}}